money
if you were in a chapter 7 bankruptcy case and received one thousand one hundred twenty five in group life insurance policy due to a death would it be exempt?
Asked on 1/13/04, 11:51 am
2 Answers from Attorneys
Eric Southward
Southward & Haggard
Re: money
Unfortunately, there are so many variables that need to be known from your question, that I doubt any attorney on this list wants to answer it as written. I won't attempt to answer your question either, just to tell you that you must talk to your attorney because of the implications the insurance proceeds could have on your case.
Answered on 1/13/04, 12:16 pm
C. David DuMond
Law Offices of David DuMond
Re: money
IC 27-1-12-29 exempts group policies and proceeds from legal process. So -- yes, the $1125 a person receives as a death benefit on a group life policy is exempt. You need to be sure to inform your attorney so that the exemption can be properly claimed.
Click and read. http://www.in.gov/legislative/ic/code/title27/ar1/ch12.html
Answered on 1/13/04, 2:27 pm
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